AIM Monthly News

The AIM index continued to bounce back from March’s all-time low, up over 20 per cent in April, boosted by over 60 companies seeing their share prices more than double. These included materials handling group SDI, up more than threefold, helped by some director dealing, and biotech company Lipoxen, which doubled on positive clinical results for its influenza vaccine technology.

Larger concerns included Phil Edmonds’s Central African Mining & Exploration (better known as CAMEC), which more than doubled to over £370 million as it reopened its copper mine and formed part of a strong collective performance from AIM’s mining contingent. Other notables here include Peter Hambro Mining, which added almost 50 per cent over the month to regain its billion-pound valuation.

Indian electricity generator KSK Power Ventur fizzed up 55 per cent to 372p to become the fourth-largest company on the market at £530 million, after raising £32.5 million of new cash.

A number of companies continued to feel the strain of the downturn, including family-run Italian fashion house Burani, down 58 per cent over the month as its subsidiary business slid into post-tax losses of e65.2 million and revealed debts of over e400 million.

Californian winemaker Cosentino’s revelation of a lesser debt of US$18 million caused a 48 per cent fall in the company’s shares to 3.25p. Chairman Larry Soldinger revealed that, as its current lenders are ‘unlikely’ to refinance its borrowings, it is seeking alternative sources of funding.